An automotive piston refers to a cylindrically shaped component which moves up and down inside the cylinder of an engine. The reciprocating action of the piston produces significant inertial force and generates mechanical energy that propels the crankshaft movement as well as provides the necessary power to an automobile for its proper functioning. These pistons are generally made up of aluminum and steel alloys as they can endure high temperatures and prevent the leakage of gas. They withstand combustion pressure and reciprocate loads to have expansion control for noiseless and long-life operation.
The recent report by IMARC Group, titled “Automotive Piston Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global automotive piston market reached a value of US$ 4.1 Billion in 2018.
Market Trends:
Owing to the growing population and inflating disposable incomes, people are now more inclined toward spending on personal vehicles, especially in emerging economies. This has resulted in the increasing sales of automobiles, which acts as a significant contributor to the market growth.
Moreover, the market is driven by the emerging trend of high-end bikes having double cylinders, which require two pistons each. This, coupled with the launch of innovative and lightweight products developed from carbon, silicon and magnesium by manufacturers, is rapidly driving the market toward growth. On account of the aforementioned factors, the global automotive piston market size is anticipated to reach US$ 5.7 Billion by 2024, expanding at a CAGR of around 6% during the forecast period (2019-2024).
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Market Summary:
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